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Abacus Group, a provider of hosted IT solutions for hedge funds and private equity funds, has appointed Brian Lozada as director of information security.
Based in New York, Lozada will report to Viktor Tadijanovic, chief technology officer of Abacus Group.
Lozada brings over 14 years’ experience in information security and will be responsible for the development of current and new Abacus security solutions that help financial institutions to protect their enterprise systems, applications and data from cyber intrusions.
Most recently, he was the director of information security at Condé Nast, where he was responsible for overseeing the security
Alternative mutual funds are expected to double their share of total mutual fund assets, according to research from Cerulli Associates.
"Alternative assets are expected to grow with robust momentum, and double their share of total mutual fund assets in the next two years," says Michele Giuditta, associate director at Cerulli.
This research comes from Cerulli's latest report, Alternative Products and Strategies 2014: Identifying Opportunities in a Dynamic Investment Landscape, a sourcebook focused on the US retail and institutional alternative product landscape, including distribution and product development trends.
"As of year-end 2013, alternative mutual fund assets made up just
Hedge fund law firm Kleinberg, Kaplan, Wolff & Cohen has appointed Joseph Iskowitz as a partner in the hedge fund practice.
He previously was a partner in the New York office of Katten Muchin Rosenman.
Iskowitz focuses his practice on the formation and structuring of domestic and offshore investment funds, including hedge funds and private equity funds, and advises funds on operational, securities, corporate and compliance issues. He also represents fund managers, investors and third-party marketers of private investment pools.
On behalf of his clients, Iskowitz structures and negotiates seed arrangements and joint ventures between multiple investment
By Olivier Sciales, Chevalier & Sciales – Luxembourg’s Financial Sector Supervisory Authority According has published Circular 14/591 on July 22, addressed to all open-ended UCITS funds governed by the grand duchy’s legislation of December 17, 2010, regarding the protection of investors in the event of a material change to an open-ended undertaking for collective investment.
The CSSF says that according to well-established supervisory practice, in the event of such a material change to investors’ interests in an open-ended fund under the 2010 law, the regulator requires that they be given sufficient time to take an informed decision, and that if
Despite a benign start to the month and low market volumes, risk assets sold off notably in the final days of July as investors reduced risk in equities, credit and bonds, according to GAM.
Those reversals resulted in broadly negative performance for July with the MSCI World index down 1.6 per cent, US high yield credit down 1.6 per cent (as measured by the IBOXX HY index) and the Barclays US Aggregate Bond index down 0.3 per cent, all in US dollar terms.
Hedge funds as a group were negative performers for the month with global macro being the positive
The current state of the US economy is ‘just right’, according to Alan Higgins, Chief Investment Officer, UK, at Coutts…
Recent data shows the US economy is still in the Goldilocks zone – not so hot that the Federal Reserve (Fed) will have to put rates up sooner than expected, and not cold either, but just right. We see US interest-rate rises as still being some way off, and only gradual when they do come, so not a big worry for equity markets for now.
Recent comments from the Fed have suggested that Chairman Janet Yellen and her colleagues don’t
Eurex Group has introduced connectivity of Trade Capture Platforms (TCPs) via the enhanced Multilateral Trade Registration (MTR) Service.
The first TCPs are BrokerHub and Vectalis; ITG RFQ-hub intends to connect on 11 August.
The service expansion will increase the efficiency of block trade execution and processing for Eurex listed derivatives via an automated straight-through process (STP). Furthermore, it will enhance the transparency and audit trail throughout the trade lifecycle, from the preliminary negotiation to the final confirmation by the counterparties and acceptance by Eurex Clearing.
“We are pleased to welcome BrokerHub, ITG RFQ-hub and Vectalis as the first
Aviate Global, the institutional equity brokerage, has returned to Asia with offices in Hong Kong and Sydney now serving the region.
Douglas Morton, James Santo, Lachlin Miller and Gerard Walsh join the brokerage firm, following the recent hires of Asia managing partners Robert Buckley (Hong Kong) and Robert Arnott (Sydney).
“Asia is not new to many followers of Aviate Global,” says Guy Gibson, co-founding partner of Aviate Global. “In June 2008, we joint-ventured with Central Joint Enterprises to build an Asia business, trading under Aviate Global branding. Initially, this operated from a London base, followed quickly by the establishment
All seven of IndexIQ’s proprietary family of hedge fund replication and alternative beta indices were negative in July.
The IQ Hedge Long/Short Beta Index was the worst performer with a return of -1.51 per cent followed by the IQ Hedge Emerging Markets Beta Index (-1.42 per cent), the IQ Hedge Market Neutral Beta Index (-1.23 per cent) and the IQ Hedge Global Macro Beta Index (-1.22 per cent).
The IQ Hedge Event-Driven Beta Index and the IQ Hedge Composite Beta Index both returned -1.18 per cent while the IQ Hedge Fixed Income Arbitrage Beta Index had the smallest loss
The US CFTC has obtained a USD13 million civil monetary penalty against defendants Parnon Energy, Arcadia Petroleum, Arcadia Energy and crude oil traders James T Dyer and Nicholas J Wildgoose.
The CFTC’s complaint charged the defendants with manipulation and attempted manipulation of New York Mercantile Exchange (NYMEX) Light Sweet Crude Oil futures contract spreads from January 2008 to April 2008.
The consent order, entered on 4 August by Judge William H Pauley III of the US District Court for the Southern District of New York, requires the defendants to pay a USD13 million civil monetary penalty, provides limitations on
